Press release
Laboratory Filtration Market and its Growth Landscape in the foreseeable future
The global laboratory filtration market is expected to reach $3.5 billion by 2023. The market is mainly driven by the increasing use of laboratory filtration products in the food and beverage industry, introduction of technologically advanced products, increasing research activities in pharmaceutical and biopharmaceutical industries, and surge in the adoption of filtration products in clinical laboratories.Request for Report Sample at: https://www.psmarketresearch.com/market-analysis/laboratory-filtration-market/report-sample
During the forecast period, the laboratory filtration market is expected to witness the fastest growth in APAC, on account of improving healthcare infrastructure, rising prevalence of chronic diseases, and increasing production of pharmaceutical products in the region. According to the World Bank, the healthcare expenditure of South Asia was 3.9% of its total gross domestic product (GDP) in 2000, which increased to 4.4% in 2014. Further, the healthcare expenditure of East Asia and Pacific was 6.5% of its GDP in 2000, which increased to 6.9% in 2014. Similarly, the healthcare expenditure of Japan was 7.5% of its GDP in 2000, which increased to 10.2% in 2014.
In order to increase their market share, key players in the laboratory filtration industry are developing and introducing new products. For instance, in February 2018, Merck KGaA launched Viresolve barrier capsule filters to reduce the risk of bioreactor contamination. Viresolve barrier filters are designed to remove viruses, mycoplasma, and bacteria from cell culture media.
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Moreover, in September 2017, Merck KGaA launched Millistak+ HC Pro, a portfolio of high-capacity, fully synthetic depth filters for non-treated Chinese hamster ovary harvest clarification and downstream filtration applications. The Millistak+ HC Pro filter media provide a cleaner and more consistent depth filtration process as compared to traditional diatomaceous earth and cellulose-based filtration processes.
Some of the other key players operating in the laboratory filtration market are General Electric Company, Cantel Medical Corporation, Thermo Fisher Scientific Inc., Danaher Corporation, 3M Company, Sartorius AG, and MACHEREY-NAGEL GmbH & Co. KG.
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